PRIME VALUE-ADD POTENTIAL IN PALMER PARK: 1000 MERTON, DETROIT, MI 48203

usarei • December 12, 2024

 

1000 Merton is a 20-unit, 70%-occupied multifamily property located near the entrance of Palmer Park, just off McNichols Road.

The property is part of Detroit’s Palmer Park Apartment Buildings Historic District. The area has undergone numerous successful revitalization efforts during the past decade.

The latest development has been created through the contributions of Detroit’s premier entrepreneur-turned-real estate developer, Dan Gilbert.

His efforts brought the annual Rocket Mortgage Classic Golf Tournaments to the Detroit Golf Club within Palmer Park in 2019.

Single residential homes around the Subject Property within Palmer Park are positioned for further
gentrification. The area’s median home values of $360,000 prices competitively alongside its
popular neighbors, Bagley and University District.

The increasing attention that the Palmer Park area has been receiving of late has not been lost on
our Team. We believe that our favorable acquisition price, the strong-value proposition, and the inhouse
construction and management teams can create a lucrative investment opportunity for our
investors for years to come.

Our investors can view the full Investment Thesis once they log in.

A walkway between two brick buildings with a lush green lawn.
A red brick house with a white door and a bay window.

SFR Acqusition #16 – 8259 Meyers Street, Growth, Growth, Growth!

By usarei • January 16, 2025
We at Mutual Trust Management Advisory LP offer our investors a long term residential real estate investment opportunity with an aggressive outlook as per below. 8% Annual Preferred Return to our investors. A Target Total of 10 to 16% Annual Returns The difference will be split by investors and general partners. Many real estate investors […] The post SFR Acqusition #16 – 8259 Meyers Street, Growth, Growth, Growth! first appeared on Diary of a Real Estate Fund Manager .
A brick house with a porch and a chimney on a cloudy day.

SFR Acquistion #18 – A Solid Investment in A Brick Area – Rented with Upsides!

By usarei • December 12, 2024
Investment Summary: 11653 Sussex Property Overview Address: 11653 Sussex Street, Detroit, MI 48227 Purchase Price: $70,000 Estimated After Repair Value (ARV): $110,000 CapEx (Capital Expenditure): $15,000 (maximum) Rent Potential: $1,200/month (currently at $950) Square Footage: 1,169 sqft Year Built: 1940 Lot Size: 40 x 108 ft (0.099 acres) Property Taxes (2024): $1,822.40 Zoning: R1 (Residential […] The post SFR Acquistion #18 – A Solid Investment in A Brick Area – Rented with Upsides! first appeared on Diary of a Real Estate Fund Manager .
A small brick house with a walkway leading to it and a car parked in front of it.

SFR Acqusition #17 – Section 8 Rental with High Growth Potential: 18239 St. Marys, Detroit

By usarei • December 12, 2024
  Investment Highlights Stabilized Rent Potential: Rental increase to $1,200/month is expected after Section 8 adjustment. Value Growth: Area appreciation and low purchase price support ARV estimate of $110,000. Strategic Location: Proximity to key amenities and major employment hubs. Market Comparables Comparable homes in the area range from $105,000 to $160,000, depending on size, condition, […] The post SFR Acqusition #17 – Section 8 Rental with High Growth Potential: 18239 St. Marys, Detroit first appeared on Diary of a Real Estate Fund Manager .
A brick house with a lot of windows is for sale

SFR Acqusition #15 – 18951 Lauder Street; Exceptional Growth Potential, Exceptional Rents

By usarei • December 11, 2024
Post-Purchase Update:  This property was approved for $1,500/mo., starting January 1, 2025. Investment Summary: 18951 Lauder, Michigan 48235 Property Overview Type: Single-Family Residence Size: 2,596 sq ft Year Built: 1952 Bedrooms: 4 Bathrooms: 1.5 Neighborhood: College Park Lot Size: 50 x 128 ft Financials Purchase Price: $135,000 Current Rent: $1,000/month (tenant contributes $130/month directly, increasing […] The post SFR Acqusition #15 – 18951 Lauder Street; Exceptional Growth Potential, Exceptional Rents first appeared on Diary of a Real Estate Fund Manager .
A small house with a car parked in front of it.

SFR Acqusition #14 – 3607 S. B. Street Zero-CapEx Gem with Extra-High Cash Flow!

By usarei • December 11, 2024
Property Overview Address: 3607 S B Street, Detroit, MI 48217 Neighborhood: Detroit – Boynton Property Type: Single-Family Residence Year Built: 1945 Size: 872 sq. ft. with a 280 sq. ft. garage and an 864 sq. ft. basement Lot Size: 0.095 acres (39 ft x 106 ft) Purchase Price: $65,000 Area Characteristics 3607 S B. Street […] The post SFR Acqusition #14 – 3607 S. B. Street Zero-CapEx Gem with Extra-High Cash Flow! first appeared on Diary of a Real Estate Fund Manager .
A small white house with a brick chimney is sitting in the middle of a lush green yard.

SFR Acqusition #13 – 19944 S. Street Rented At $1,200 A Month

By usarei • December 8, 2024
Acquisition Summary Property Detail: Single-family home, 1,152 sq ft, 1BA Acquisition Date: October 4, 2024 Purchase Price: $45,000 Repair Estimate: $10,000 (roof and exterior work) Total Investment: $55,000 Projected ARV: $80,000 Current Rent: $1,200/month (good tenant) Estimated Future Taxes: $2,316/year (adjusted based on SEV for non-homestead property) Located in the Five Points area of Detroit, […] The post SFR Acqusition #13 – 19944 S. Street Rented At $1,200 A Month first appeared on Diary of a Real Estate Fund Manager .
A brick house with a white roof and a car parked in front of it.

SFR Acqusition #12 – 18037 R. Acquired with a Renter, Raised to $1,000 Immediately!

By usarei • December 8, 2024
This single-family residence in the College Park neighborhood offers immediate stability and strong cash flow rather than a typical value-add project. Key highlights include: Purchase Price: $75,000 – an exceptionally low entry point relative to the market. Capital Expenditures: Minimal or none required ($5,000 or less anticipated). ARV: $150,000, indicating significant inherent value. Rent: $1,150/month, […] The post SFR Acqusition #12 – 18037 R. Acquired with a Renter, Raised to $1,000 Immediately! first appeared on Diary of a Real Estate Fund Manager .
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